A) As of December 31, 2021, Warner Corporation reported the following: What was shareholders' equity as of December 31,

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A)
As of December 31, 2021, Warner Corporation reported thefollowing:
What was shareholders' equity as of December 31, 2021?
Multiple Choice
$8,682,000.
$8,651,000.
$9,231,000.
$8,620,000.
B)
On June 1, 2021, Blue Co. distributed to its common stockholders190,000 outstanding common shares of its investment in Red Inc.which is an unrelated party. The book value on Blue’s booksof Red's $1 par common stock was $1.30 per share. Immediately afterthe declaration, the market price of Red's stock was $3.30 pershare. In its income statement for the year ended June 30, 2021,what amount should Blue report as gain before income taxes ondisposal of the stock? (Do not round your intermediatecalculation.)
Multiple Choice
$0.
$247,000.
$627,000.
$380,000.